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Baidu to Invest in UiTV, and UiTV to Operate Baidu Internet TV Channel [marketwatch.com]Baidu.com, Inc., the leading Chinese
language Internet search provider, today announced that it has entered into agreements with UiTV, operator of the largest Internet television platform in China. Under these agreements, Baidu will contribute assets related to the operation of Baidu Internet TV Channel to UiTV in exchange for an 8.3% stake in UiTV and US$15 million. Following this transaction, Baidu Internet TV Channel will continue to be hosted on movie.baidu.com and it will be operated by UiTV. This channel is not related to video.baidu.com, Baidu's video search business.
